Supply and Demand

What does this curve represent?

• demand
• supply
• equilibrium
• shortage

What does this curve represent?

• supply
• equilibrium
• demand
• surplus

Assume the image is showing the market for apples.  Which of the headlines could indicate the pictured shift is occurring in the market?

• Pesticides on apples linked to mouth cancer.
• Storms destroy apple orchards.
• An apple a day really does keep the doctor away.
• New genetic strain leads to apple trees that produce twice as many apples.

A government payment made to a business is a

• tax
• regulation
• subsidy
• resource

Point at which supply and demand come together

• price ceiling
• excess demand
• equilibrium
• disequilibrium

When quantity demanded is more than quantity supplied

• price ceiling
• excess demand
• equilibrium
• disequilbrium

When quantity supplied is not equal to quantity demanded

• price ceiling
• excess demand
• equilibrium
• disequilibrium

Legal maximum that can be charged for a good.

• price ceiling
• excess demand
• equilibrium
• disequilibrium

When quantity supplied is greater than the quantity demanded, what is the condition know as?

• abundant supply
• disequilibrium
• excess availability
• excess supply.

What is the government controlled price ceiling on apartment prices called?

• floor pricing
• rent control
• equilibrium level
• rent monitoring